Voya Investment Management LLC Raises Holdings in Globant S.A. (NYSE:GLOB)

Voya Investment Management LLC increased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,270 shares of the information technology services provider's stock after acquiring an additional 45,403 shares during the quarter. Voya Investment Management LLC owned about 0.72% of Globant worth $66,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after buying an additional 71 shares in the last quarter. Congress Wealth Management LLC DE increased its stake in Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock worth $575,000 after buying an additional 76 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after acquiring an additional 110 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock worth $1,032,000 after acquiring an additional 118 shares during the period. Finally, Commerce Bank grew its position in shares of Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after purchasing an additional 151 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Trading Down 3.0 %

Shares of GLOB stock traded down $3.60 on Wednesday, reaching $115.45. 199,722 shares of the company's stock were exchanged, compared to its average volume of 605,226. The company's fifty day simple moving average is $124.25 and its 200 day simple moving average is $185.57. The stock has a market capitalization of $5.08 billion, a PE ratio of 31.03, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GLOB. Scotiabank lowered their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday. Piper Sandler cut their target price on shares of Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. StockNews.com cut shares of Globant from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their target price on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.00.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.